Abstract
Over the last forty years, the pattern of long-term economic growth in Catalonia has been characterised by two very distinctive phases. During the period 1970-1992, the source of per capita output growth is found in the extensive labour productivity gains that were the result of technological efficiency improvements. The period 1993-2010, on the other hand, witnessed a favourable evolution of demographic and labour market factors - more particularly, a strong expansion of labour utilisation - while labour productivity growth slowed down substantially. This paper presents medium-term forecasts of potential growth in Catalonia and suggests that labour productivity growth may underpin an estimated potential growth rate of 2,2%. Yet, the results are conditional upon Catalonia´s effort at closing the technological gap with the U.S.
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